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Affordable Housing in Englewood: LIHTC's Impact on a Changing Neighborhood
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Englewood, a neighborhood in Chicago, Illinois, has a significant presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The neighborhood's LIHTC inventory consists of 1,361 total units, with 1,153 designated as low-income units. Based on the 2022 population of 37,209 and using the national average household size of 2.61, the estimated housing inventory is approximately 14,256 units. The LIHTC funded affordable housing covers about 9.5% of the estimated housing units in the neighborhood.
The LIHTC program has invested significantly in Englewood, with project tax credits totaling $21,018,750. This translates to an average federal funding of approximately $15,444 per unit in LIHTC funded projects. The neighborhood has seen a consistent development of affordable housing over several decades. The earliest recorded LIHTC projects in Englewood date back to 1990, with projects like "1517-19 W Marquette" and "7500-06 S Eggleston." The most recent completed project on record is "Sangamon Terrace" in 2015, indicating at least 25 years of LIHTC investment in the area.
The 1990s saw significant affordable housing development in Englewood, with projects such as "Englewood Terrace Apts" (1992), "Hamilton Park Apts" (1993), and "Englewood Gardens" (1996). The 2000s continued this trend with projects like "Wheeler House" (2003) and "Yale Building" (2004).
The LIHTC funded projects in Englewood offer a diverse range of unit types. The inventory includes 284 efficiencies, 210 one-bedroom units, 358 two-bedroom units, 306 three-bedroom units, and 5 four-bedroom units. This variety caters to different household sizes and needs within the low-income population.
One notable project is "Hope Manor II Apartments," completed in 2014, which specifically targets veterans. This project addresses the unique housing needs of former service members, potentially offering supportive services alongside affordable housing. Another project, "Antioch Homes III," targets adults 18 and older, suggesting a focus on independent living for low-income adults.
Over the past decade, Englewood has experienced significant demographic shifts. The population has steadily declined from 45,364 in 2015 to 37,209 in 2022, a decrease of about 18%. Despite this population decline, the median income has shown an upward trend, rising from $20,143 in 2015 to $27,067 in 2022, an increase of about 34%.
The racial composition of Englewood has remained predominantly Black, though there has been a slight decrease from 95% in 2015 to 90% in 2022. Concurrently, there has been a modest increase in the Hispanic population, from 1% in 2015 to 7% in 2022.
The most recent LIHTC project on record was completed in 2015. The subsequent years have seen continued population decline and income growth, which may have influenced the perceived need for additional LIHTC developments in the area.
Englewood's LIHTC funded affordable housing inventory represents a significant portion of the neighborhood's estimated housing stock. The consistent development of LIHTC projects over several decades demonstrates a long-term commitment to affordable housing in the area. The diverse range of unit types and targeted populations in these projects suggests an effort to meet varied housing needs. While the neighborhood has experienced population decline and income growth in recent years, the existing LIHTC inventory continues to play a crucial role in providing affordable housing options for Englewood residents.
